The next 15 years will be the golden period of natural gas development. China will build a safe flexible industrial system

Under the dual carbon target, as a clean energy with high calorific value, natural gas has received more  more attention.

Global gas demand will decline by 1.9%,  75 billion cubic meters, in 2020 due to the unusually warm winter in the Northern Hemisphere  the COVID-19 pandemic, according to the International Energy Agency's Gas Analysis  Outlook 2021-2024 report (hereinafter referred to as the "Report"), which was held in Beijing recently.

In the absence of major policy changes to limit global gas consumption, gas demand is expected to grow in the coming years, with global gas demand expected to rebound by 3.6 percent in 2021  reach nearly 4.3 trillion m3 by 2024, a 7 percent increase  pre-COVID-19 levels, the report said.

China is accelerating carbon reduction, creating new opportunities for natural gas development.

According to the US Energy Information Administration, carbon dioxide emissions in the US peaked in 2007,  in 2019 the country achieved a 20 per cent reduction  their peak. The biggest contributor to the reduction is natural gas, which accounts for 40% of the reduction.

Chai Qimin, director of the strategic planning department of the National Center for Climate Change Strategic Research  International Cooperation under the Ministry of Ecology  Environment, said that natural gas will play a very big role in China's low-carbon development in the future,  the next 15 years will be a golden period for natural gas development.

In order to achieve a better development of the natural gas industry, Wang Jing, deputy director of the Petroleum  Natural Gas Department of the National Energy Administration, pointed out that in the future, China will continue to adhere to the coordinated development of production, supply, storage  marketing, vigorously enhance exploration  development efforts, accelerate the improvement of infrastructure layout, speed up the construction of gas storage facilities,  promote market-oriented reform. Efforts should be made to build a safe, reliable, flexible  resilient natural gas industry chain  supply chain system.

In addition, the utilization structure of natural gas will be optimized, the coordinated  integrated development of gas  electricity will be accelerated,  the emergency protection  supply capacity of natural gas will be improved.

Chai Qimin further pointed out that  the chemical industry  power generation in two areas, the natural gas industry produced by the positive is clear.

According to the survey data of Inner Mongolia, Shaanxi  other regions, the disadvantage of using coal as raw material for chemical production is very obvious. In the context of stricter coal-related policies, natural gas has good prospects.

On the power generation side, natural gas power generation has flexibility,  in the future, it will provide peak regulation capacity, peak regulation assistance  other support for the new power system dominated by new energy.

Zhu Xingshan, a distinguished researcher at the Energy Research Institute of Peking University, also pointed out that natural gas can be defined as a partner of renewable energy to support the modern clean energy system with new energy as the main body.

Yang Lei, deputy director of the Institute of Energy Research at Peking University, said at the conference that a 1% increase in the substitution of natural gas for coal by 2030 would reduce 75 million tons of carbon dioxide emissions,  that natural gas would have a significant impact on emissions reduction.

Yang Lei said that in the field of power generation, gas-fired power generation has obvious advantages in the comprehensive benefits of environmental protection. Even coal-fired power plants that have reached the level of "ultra-low emissions" are still slightly worse than ordinary gas-fired power plants in their emission indicators.

The Asia-Pacific region is forecast to account for nearly half of the growth in gas demand through 2024, driven by China  India  emerging markets in South  Southeast Asia, according to the IEA report. The Asian market is a region with more prominent growth in natural gas demand,  China's position  role in the global natural gas industry are also becoming increasingly prominent.

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Source: International Gas Network